Ethereum Classic / Dollar may fall to 21.82 - 22.12

Our pivot point stands at 23.19.

Our preference

The downside prevails as long as 23.19 is resistance.

Alternative scenario

The upside breakout of 23.19, would call for 23.70 and 24.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 22.95 and 23.07).

Supports and resistances

24.00 **

23.70 *

23.19 **

22.99

22.74 last

22.12

21.82 **

21.52 *

21.21 **

Number of asterisks represents the strength of support and resistance levels.